TAS
Senior Member
That's quite the wall to west and south of this new little 6-storey project.
7-story lolThat's quite the wall to west and south of this new little 6-storey project.
Are you asking me? If so, I’m not sure why. The poster asked why there aren’t more high rises and I was offering an answer.^ And I suppose you believe that "feeding the beast" will make the beast go away. As long as developers "believe" that building the stick-frame uglies is a future-proof way of making money in the residential building game they will have fallen into the same trap that led to the capitulation to the walk-up phenomenon of the 60s/70s that so colored the then-called Oliver District adjacent to downtown E. There is no sin in building low rise accommodation that is artful and integral to the fabric of the City, but for gawd's sake at least make an effort!
High rise buildings are always in fashion as long as the dollars work. There were some builds in Edmonton in recent years when the interest rates were lower. House prices need to be higher for it to work.Things seem to go in and out of fashion and right now downtown high rises don't seem as interesting here. It could also partly be because several were completed in recent years and the market is now absorbing those units.
They seem to be being filled, so once that happens there might be several new ones happening here again too. I haven't been to Ottawa for a while, but when I went last they didn't seem to have very many high rises compared to us, so whatever boom they area having now may actually be catching up with elsewhere.
My controversial take in this forum is I ACTUALLY like the Westrich midrises in downtown lolWhile the calculation details for ROI can be complex, the overall logic that will get us to more high rises being built is simple:
More people in the area -> more eyes on the street and more vibrancy
More eyes on the street and more vibrancy -> better perception and more successful businesses
Better perception and more successful business -> more attractive for more people and businesses
More attractive areas -> higher rental/sale prices
Higher rental/sale prices -> better margins
Better margins -> more expensive builds pencil out = higher likelihood of high rises being built
Some of these relations are not as direct or may happen simultaneously to others, but the overall takeaway for me is: these low and mid rises we're getting will very likely pave the way to high rises in the future, and it is not going to be for lack of space for that. We still have a huge sea of parking lots all over downtown, including the CBD, where high rises will probably happen in the not so distant future.
That said, it would be nice if we could get higher quality designs and finishes overall, but I also don't think most of the stuff being built downtown is as crappy as many here say.
I pretty much agree with this. In particular, having more buildings and more people will improve the feel of the area, making it more desirable and more likely for high rises to be built downtown in the future.While the calculation details for ROI can be complex, the overall logic that will get us to more high rises being built is simple:
More people in the area -> more eyes on the street and more vibrancy
More eyes on the street and more vibrancy -> better perception and more successful businesses
Better perception and more successful business -> more attractive for more people and businesses
More attractive areas -> higher rental/sale prices
Higher rental/sale prices -> better margins
Better margins -> more expensive builds pencil out = higher likelihood of high rises being built
Some of these relations are not as direct or may happen simultaneously to others, but the overall takeaway for me is: these low and mid rises we're getting will very likely pave the way to high rises in the future, and it is not going to be for lack of space for that. We still have a huge sea of parking lots all over downtown, including the CBD, where high rises will probably happen in the not so distant future.
That said, it would be nice if we could get higher quality designs and finishes overall, but I also don't think most of the stuff being built downtown is as crappy as many here say.
Yeah sure, whatever. If you like suburban development downtown...My controversial take in this forum is I ACTUALLY like the Westrich midrises in downtown lol
Yeah sure, whatever. If you like suburban development downtown...




